this is bbc news with the latest business headlines for viewers in the uk and around the world. the cost of strict covid controls. trade tumbles in the world's second biggest economy — china's exports and imports sink. how to rebuild ukraine as russia continues to pummel critical infrastructure. we hearfrom the ebrd as it commits over 3 billion euro to keep the economy functioning. and counting the cost of christmas — trees are rising in price. the boss of europe's largest christmas tree wholesaler is on the programme to tell us why.

the news was expected to be bad, but it's a lot worse, revealing trade in china has been hit hard by the strict covid restrictions that have been eased in the last week. data just out shows china's exports in november contracted by 8.7% compared to the year before while imports tumbled 10.6%. in the face of widespread protests in china, the government has begun to unwind its flagship zero—covid policy. but now there are warnings removal of the restrictions risks sparking an unparalleled winter wave of covid infections that would rapidly overwhelm china's healthcare system. joining me now is guido cozzi, professor of macroeconomics, university of st gallen.

what does this tell us, these trade numbers? the what does this tell us, these trade numbers?— trade numbers? the trade numbers _ trade numbers? the trade numbers tell _ trade numbers? the trade numbers tell us _ trade numbers? the trade numbers tell us it - trade numbers? the trade numbers tell us it was - trade numbers? the trade - numbers tell us it was obvious, with the growth of incomes, and gdp, lowerthan with the growth of incomes, and gdp, lower than expected, also demand would be growing much less, people are not sure about their incomes, about their wages, there are salaries, there are profits due to this intermittent lockdowns, and the overall uncertainty, therefore they demand less, and therefore they demand less, and therefore they will import less because part of the chinese domestic demand, of course, goes to buy foreign goods. demand, of course, goes to buy foreign goods-— demand, of course, goes to buy foreign geode— demand, of course, goes to buy foreign goods-— foreign goods. also it tells us the are foreign goods. also it tells us they are exporting _ foreign goods. also it tells us they are exporting a - foreign goods. also it tells us they are exporting a lot - foreign goods. also it tells us they are exporting a lot less i they are exporting a lot less than economists thought, what does that indicate about the global economy and global demand?—

global economy and global demand? , , demand? this indicates the . lobal demand? this indicates the global economy _ demand? this indicates the global economy has - demand? this indicates the i global economy has worsening expectations in china and the rest of the world have complementary problems because china doesn't have the strict monetary prospect due to high inflation, inflation is 2%, so it is the inflation champion, but the rest of the world has energy crisis, inflation, and monetary contractions, that reduce excess demand that goes to china, because chinese exports are the rest of the world's excess demand. it’s exports are the rest of the world's excess demand. it's a real concern _ world's excess demand. it's a real concern about _ world's excess demand. it's a real concern about months i world's excess demand. it's a - real concern about months ahead in china as they start to allow people �*s directions are being, awnings coming from several organisation including the who about the situation in china because many are unvaccinated, many elderly are unvaccinated and the vaccine being used is not as effective?— and the vaccine being used is not as effective? exactly, this is laruel not as effective? exactly, this is largely a — not as effective? exactly, this is largely a predicted - not as effective? exactly, this| is largely a predicted problem,

change, strangely, xijinping change, strangely, xi jinping hasn't forced change, strangely, xijinping hasn't forced over 80s to the bacskay, they are more determined to try that, and they are relying on an activated virus vaccine that are much worse than the western vaccine that they didn't want to import for patriotic reasons. so this leaves some uncertainty, hopefully after one year of mistakes beijing will realise what the correct policy is. will realise what the correct policy is-— will realise what the correct oli is. . , . policy is. what is the correct oli , policy is. what is the correct policy. it _ policy is. what is the correct policy. it is _ policy is. what is the correct policy. it is a _ policy is. what is the correct policy, it is a difficult - policy, it is a difficult tightrope for warranties to walk now, one estimate by one organisation they could see a million covid—19 deaths over the winter months? million covid-19 deaths over the winter months?- million covid-19 deaths over the winter months? that's right because half— the winter months? that's right because half of _ the winter months? that's right because half of the _ the winter months? that's right because half of the over - the winter months? that's right because half of the over 80s . because half of the over 80s are unvaccinated according to the latest official releases, the latest official releases, the current policy is to vaccinate the over 80s the risk group possibly with western vaccines, at the moment they

are targeting with the home—made vaccines which happen rate of 50%, so the situation is not yet completely optimistic.— is not yet completely optimistic. is not yet completely otimistic. , ., ., is not yet completely otimistic. ., ., .,~ optimistic. guido, good to talk to, thanks _ optimistic. guido, good to talk to, thanks for _ optimistic. guido, good to talk to, thanks for your _ optimistic. guido, good to talk to, thanks for your analysis . optimistic. guido, good to talk to, thanks for your analysis of| to, thanks for your analysis of those latest trade numbers. we talk a lot about us—china trade tensions, and the two leaders president biden and president xi are busy building stronger ties with their own friends. while president biden visited the site of a huge new semiconductor plant in arizona, built by taiwanese chip giant tsmc, the chinese president is about to be let's speak to mariko oi in our asia business hub, mariko, quite a contrast! indeed, because one of the reasons saudi arabia is very keen to boost its trade ties with beijing to expand its

superpower relationships beyond its role of the contentious alliance with the us especially after the killing of the generalistjamal khashoggi, the generalist jamal khashoggi, the world generalistjamal khashoggi, the world �*s biggest oil exporter now reshaping its foreign policy to reflect what they see as the realities of global power. as the realities of global ower. , ., as the realities of global lower. , power. so when the chinese president — power. so when the chinese president arrives, _ power. so when the chinese president arrives, the - power. so when the chinesej president arrives, the crown prince is known to hold a lavish welcome, which may look rather different from the muted reception the us presidentjoe biden received back injuly, and coincidently, less than 24—hour speed for the trip of xijinping to riyadh, president biden was visiting a taiwanese chip manufactory building a huge factory in arizona, he has declared the comeback of american manufacturing but this really represent strengthening ties with taiwan as well, the company is the biggest contract chipmaker in the world and a

major supplier to apple, so the dominant position of taiwan has sparked concerns of overreliance on the island especially as china ramps up military pressure, so while the company invests a0 billion dollars in arizona the chinese reportedly hoping to sign agreements with $30 billion with saudi arabia stop eye watering numbers, aren't they, study. watering numbers, aren't they, stud . , ., watering numbers, aren't they, stud . , . ., ., study. they are, and i have more of — study. they are, and i have more of those _ study. they are, and i have more of those to _ study. they are, and i have more of those to come. - study. they are, and i have i more of those to come. let's focus on ukraine. ukraine's economy will shrink by almost 32% this year and annual inflation will accelerate to 30%, largely due to the damage done by russia's invasion, that's according to the ukrainian central bank. according to the kyiv school of economics, shelling has

caused $10 billion worth of damage to firms. the european bank for reconstruction and development has committed up to e3 billion over 2022—2023 to help ukraine's businesses and economy keep functioning. joining me now is matteo patrone, managing director, eastern europe and the caucasus ebrd — european bank for reconstruction and development. the ebrd has been committed and investing in ukraine for many years, it is more needed than ever. what will you be discussing today in particular? today we are going to focus on immediate and short—term needs, we will do that with a number of conditions, and with members of conditions, and with members of the government, we will have the economic advisor of president zelensky, the deputy prime ministerfor president zelensky, the deputy prime minister for restoration, and ceos of major come in particular of the energy sector, the ceo of natural gas and we will discuss how to counteract the consequences of the attack on civilian

infrastructure in the country, infrastructure in the country, in particular, and the energy sector, also we will not shy away from discussing matters such as governance of state owned risers which is the base of a healthy recovery. you owned risers which is the base of a healthy recovery.- of a healthy recovery. you say the ebrd _ of a healthy recovery. you say the ebrd are _ of a healthy recovery. you say the ebrd are committed - of a healthy recovery. you say the ebrd are committed to i the ebrd are committed to investing 3 billion euros, what additions are attached to that? the conditions aren't always the same, they are conditional to reforms and mitigation of unravelling of those reforms, and this is what we continue doing in the future. current environment we will focus on the provision of liquidity to both private and public companies in a number of areas, going from supporting trade finance to energy security, we have provided 150 million euros, our board approved another package force 370

million euros from the netherlands, we have provided a package of 500 euros to natural gas for the acquisition of gas, we are providing support to the transport infrastructure, with a company crucial both for people and cargo in the crisis in the food security is part of that situation, and we will support also runcible companies and runcible administration especially into dnipro and we will extend that to others, hopefully. g, will extend that to others, hopefully-— will extend that to others, hoefull . �* ., ., ., ~ ., hopefully. a lot to talk about and a lot _ hopefully. a lot to talk about and a lot to _ hopefully. a lot to talk about and a lot to do. _ hopefully. a lot to talk about and a lot to do. thank- hopefully. a lot to talk about and a lot to do. thank you i hopefully. a lot to talk about | and a lot to do. thank you for talking to us about your discussions today, in ukraine. let's get some of the day's other news. two women in the us have sued apple, after they alleged their former romantic partners used the company's airtag devices to stalk them — potentially putting their

safety at risk. apple had launched the small bluetooth locator last year, and said it could be used to help users find items like keys and laptops. but experts had warned the devices could also be used to track individuals without their consent. australia's gdp grew by 0.6% in the third quarter, pointing to a slight brake in the country's economy. consumer spending had buckled under inflation as well as higher interest rates. just yesterday, the country's central bank raised its cost of borrowing again, to try and cool demand and tame rising prices. stay with us on bbc news, still to come: counting the cost of christmas — trees are rising in price — the boss of europe's largest christmas tree wholesaler is on the programme to tell us why.

this is bbc world news.

the latest headlines: the democrats win the last senate seat up for grabs in the mid—term elections — solidifying democrats' control of the upper house. moroccan football fans celebrate their world cup win over spain. they are through to the quarter finals for the first time. the united states and britain have announced an energy partnership aimed at sustaining a higher level of liquefied natural gas exports to britain. the two will collaborate on ways to increase energy efficiency. britain and other european countries have turned to the united states as they try to reduce their reliance on russian energy supplies following moscow's invasion of ukraine begun in february. janet mui, head of market analysis at rbc brewin dolphin, joins me now. the uk has been importing

liquefied natural gas from the us for a while but it is increasing it quite significant plea, talk us through the strategy? 50 plea, talk us through the strategy?— strategy? so the uk is basically _ strategy? so the uk is basically going - strategy? so the uk is basically going to - strategy? so the uk is| basically going to more strategy? so the uk is - basically going to more than double its current import of liquefied natural gas from the us this year has been significant because russia has been curtailing the export of gas and basically everyone is shunning russian gas and trying to use alternative sources of energy and the us is a huge producer of liquefied natural gas so it is natural for the producer of liquefied natural gas so it is naturalfor the uk to strike a deal with the us, in fact the european union has struck a long—term deal to import 15 billion metres of liquefied natural gas from the us every year, you are ok trying to secure this long—term strategic partnership with us for the energy security. i wanted to get your take on

markets on wall street saw a sell—off in discussion about what the federal reserve what might do next, whenjerome powell gave his speech recently indicated he may not be as aggressive in the sense rate hike may not be as big going forward, now markets seem to be concerned actually, they may remain big interest rate increases for december and on? there are a number of reasons why. we have strong employment data from last friday which shows wage growth is slow and that will keep inflation higher. on monday we saw strong services sector activity data, assign the us was strong. wall street is concerned about comments from the us bank ceo including goldman sachs which says he is concerned about a recession and that morgan stanley has announced thousands

ofjob cuts because the banking sector is highly exposed to the functioning of the economy. usually banks are the ones who know what is going to happen to the economy because they have so much data on consumer spending and lending and housing sector, mortgages, etc. wall street are concerned about impending it recession in the us. ~ impending it recession in the us. . . impending it recession in the us. ~ . . , ., us. with that in mind, what you make of the _ us. with that in mind, what you make of the latest _ us. with that in mind, what you make of the latest shade - make of the latest shade dormitory numbers from china, a massive drop in exports and imports?— massive drop in exports and im orts? , ,., imports? the chinese import data is still— imports? the chinese import data is still very _ imports? the chinese import data is still very much - data is still very much affected by the ongoing restrictions although there are signs that it seizing. —— easing. past data will be subject to the economy. on a global basis, export is a letter to the economic cycle whether global economy is slowing and then later economies like the us, uk,

those import numbers in china will be negatively impacted as well. they're not surprised to see those worthless at the data. , ., see those worthless at the data. �* . ., ., see those worthless at the data. , . ., ., ., . ~ see those worthless at the data. , . ., . ~ ., data. janet, good to talk to ou. data. janet, good to talk to you- have _ data. janet, good to talk to you- have a _ data. janet, good to talk to you. have a lovely - data. janet, good to talk to you. have a lovely day. - data. janet, good to talk to | you. have a lovely day. see data. janet, good to talk to - you. have a lovely day. see you again soon. studies indicate that women, non—binary and trans people make up less than 5% of the music tech industry. one company trying to change that is saffron, which runs dj mix nights and educational classes for engineers, producers and broadcasters. take a look. i have been called a woman dj and the women comments is a high plate and often give feedback about how i could do it better. take the floor! my progressions

are dail . take the floor! my progressions are daily- i _ take the floor! my progressions are daily. i feel— take the floor! my progressions are daily. i feel like _ take the floor! my progressions are daily. i feel like i _ take the floor! my progressions are daily. i feel like i am - are daily. ifeel like i am being sexualised when you do certain nights out and it's very much like, ok, here are some alcohol, this, do this. it is dehumanising and takes my passion away from my work. i'm here for a job, not to be pretty woman dj overnight. enough times i've been on the stage and no girlfriends allowed and all that talk, backstage etiquette and i shake my guy mates�* hands and i see it's actually me playing. sorry, sorry! the first time i've been in the room full of female producers and djs was saffron. i never actually met so many at one time. it makes it change my perception so it's

really important. there is a 5% of women in the music tech industry, to .8% of those are music producers and less than i% music producers and less than i% of those and less than i% of those are women of colour. for me, it's really about everyone in the organisation to feel that part of a community and feel like their voices are heard. that's first and foremost for me, and change some of the statistics which will then change the industry. anything i play is not with open _ anything i play is not with open arms because of the community we have created, it's not like — community we have created, it's not like i— community we have created, it's not like i feel like i'm barely needed _ not like i feel like i'm barely needed when i go to club spaces _ needed when i go to club spaces. it is growing exponentially so i'm excited about — exponentially so i'm excited about the change we are making and it's— about the change we are making and it's really peaceful change. and it's really peaceful change-— and it's really peaceful chanie, . ., ~' ., ., change. we talk about china trade data — change. we talk about china trade data and _ change. we talk about china trade data and news - change. we talk about china trade data and news has - change. we talk about china l trade data and news has come out from the health authority that across china the latest is

that across china the latest is that asymptomatic covid—i9 cases and those with mild symptoms can self treat while in quarantine at home. they will be put into isolation or special measures. they can stay at home and treat themselves. it's the strongest signs are far china is preparing to allow people to live where the covid. that's just come through, that news from the national health authority in china. now for some seasonal cheer. the average cost of a real christmas tree is up, with rising production costs of farm—grown trees to blame. an estimated 6—8 million christmas trees are sold every year in the uk. joining me now to talk through the challenges is christopher hood — director and founder of needlefresh, europe's largest tree wholesaler. good to talk to you, christopher. this year, what is different in terms of cost pressures compared to last

year? pressures compared to last ear? �* ., , year? along the same lines as most of the — year? along the same lines as most of the agricultural - year? along the same lines as most of the agricultural sector is suffering, increases in fertiliser, increases in fuel sprays, and with us the increase in timber we use a lot of timber in order to package the trees to get them to the customers. the trees to get them to the customers— the trees to get them to the customers. you are having to ass it customers. you are having to pass it onto _ customers. you are having to pass it onto the _ customers. you are having to pass it onto the customer. i customers. you are having to. pass it onto the customer. the price of a tree is more this year? price of a tree is more this ear? , . ., . ., ., year? yes, although a lot of it is bein: year? yes, although a lot of it is being absorbed, _ year? yes, although a lot of it is being absorbed, quite i year? yes, although a lot of it is being absorbed, quite a i year? yes, although a lot of it is being absorbed, quite a lot| is being absorbed, quite a lot is being absorbed, quite a lot is absorbed by the growers, and for the first time a long time, the are actually taking a bit of a hit on their margin to try and make sure that the trees don't go out substantially in price. don't go out substantially in rice. , . ., . , price. presumed amount as stron: price. presumed amount as strong as — price. presumed amount as strong as ever? _ price. presumed amount as strong as ever? it's - price. presumed amount as strong as ever? it's a i price. presumed amount as strong as ever? it's a funnyj strong as ever? it's a funny thin , strong as ever? it's a funny thing, christmas _ strong as ever? it's a funny thing, christmas trees, i strong as ever? it's a funny thing, christmas trees, it l thing, christmas trees, it doesn't seem, i've been doing business for 30, a0 years and christmas trees don't necessarily follow the rest of the economy. people want a christmas tree to celebrate at

christmas, probably if anything when things are difficult, they want the tree more, they want to celebrate. we've seen christmas trees actually carry on with relatively good sales right through what we have suffered the last few decades. took us through issues you have with labour. it is labour—intensive what you do. have you had challenges from that point of view?— have you had challenges from that point of view? there was a lot of confusion _ that point of view? there was a lot of confusion last _ that point of view? there was a lot of confusion last year. i lot of confusion last year. everybody was getting used to it. we got the real hit on the problems with confusion with who could come into the country and who couldn't.— and who couldn't. confusion caused by — and who couldn't. confusion caused by brexit? _ and who couldn't. confusion caused by brexit? exactly. i and who couldn't. confusion i caused by brexit? exactly. we had au s caused by brexit? exactly. we had guys who _ caused by brexit? exactly. we had guys who set _ caused by brexit? exactly. we had guys who set off - caused by brexit? exactly. we had guys who set off with i caused by brexit? exactly. we l had guys who set off with being told we are allowed to come into the country, they came every year for many years, and were turned back at the border. this year things have sorted themselves out and a labour force has been good. i themselves out and a labour force has been good.- themselves out and a labour force has been good. i used to rel in:

force has been good. i used to relying on _ force has been good. i used to relying on labour, _ force has been good. i used to relying on labour, seasonal. relying on labour, seasonal labour, from outside the uk? some of it. all of it is coming in legally, we need it. some of it now is british or in a particular case scottish. despite the fact that it is a tough christmas for households, everything is going up in price, you should have a bumper year as usual? hat price, you should have a bumper year as usual?— year as usual? not sure about bum er year as usual? not sure about bumper year- _ year as usual? not sure about bumper year. certainly - year as usual? not sure about bumper year. certainly our i year as usual? not sure about. bumper year. certainly our year looks like it will be in line with their we would have hoped it to be and pretty much on a level with what we have seen over the last three or four years. pl, over the last three or four ears. �* . ~' over the last three or four ears. �* w ., over the last three or four ears. ~ .~ ., ., years. a quick word on the environment. _ years. a quick word on the environment. there i years. a quick word on the environment. there is i years. a quick word on the environment. there is a i years. a quick word on the i environment. there is a massive debate about should we have a real tree or not, should we have a tree in a pot that we can use the following year? your take on the?- can use the following year? your take on the? uyghur potger entries. your take on the? uyghur potger entries- they _ your take on the? uyghur potger entries. they are _ your take on the? uyghur potger entries. they are the _ your take on the? uyghur potger entries. they are the ideal- entries. they are the ideal thing for the environment because if you plant them after christmas they carry on growing and keep absorbing carbon.

carbon is the big issue. but it's not reallyjust about carbon is the big issue. but it's not really just about the tree you buy. it's about the other ten trees which you could have planted to take its place in the future. our plantations are actually breathing in air and filtering the carbon all the time while they own production. if you buy real tree, you keep industry going and keep the industry going, and keep the industry going, and you are literally helping sequester tons and tons of carbon. . ., . sequester tons and tons of carbon. , .,, ., ., carbon. 0k. christopher hood, aood to carbon. ok. christopher hood, good to talk— carbon. 0k. christopher hood, good to talk to _ carbon. 0k. christopher hood, good to talk to you _ carbon. 0k. christopher hood, good to talk to you at - carbon. 0k. christopher hood, good to talk to you at such i carbon. 0k. christopher hood, good to talk to you at such a l good to talk to you at such a busy time. thanks for getting up busy time. thanks for getting up so early. let's look at financial markets briefly to show you how the day is progressing. hong kong is up over a percent despite the news out about the chinese economy and trade data which as i've mentioned was a lot worse than expected. but in many ways hong kong has been buffeted, either up or down,

strongly, given what's going on in china. you are up to date on all things business news and sport. have a good day and i'll see you soon. hello there. it's been cold enough alreadyjust recently, but i'm afraid to say it's going to get colder still over the coming few days. with some clear skies overnight, we're looking at widespread, quite sharp frosts. there is the threat of some icy conditions as well, particularly where we see some wintry showers. now, this colder air is coming our way because the wind is a northerly, and that northerly wind sweeping down across the whole of the country now. and because it's a northerly, northern scotland's really in the firing line. this is where we're going to see most of snow. could be 10cm over the hills in the next few days. there is a risk of ice and snow elsewhere. but for many inland parts of england in particular, it's a very low chance of snow. it's going to be cold everywhere with a widespread frost, maybe not quite so cold early on wednesday in east anglia

in the south—east, because we've got a bit more cloud here that'll take a while to break up. otherwise many places will be dry and see some sunshine. it's areas exposed to that northerly wind that will see some wintry showers. parts of northern ireland, down some of these irish sea coasts, down the north sea coast and more especially northern scotland seeing that snow. those are the temperatures in the afternoon, three to five degrees, a little bit colder than it was on tuesday, windy in northern scotland and down those north sea coasts. so it's these areas in particular that will feel quite a lot colder in that wind. and the snow continues. as we head overnight it could get a bit heavier across northern scotland. we may see some mixture of rain, sleet and snow coming in to northern ireland as well. and that's coming into cold air, of course, another widespread frost with clear skies across many parts of the country. and we've got this cold air, this northerly air right the way across the country. now, the winds are not particularly strong. so where you have those clearer skies, that's why we're seeing such low temperatures at night. it could be icy for a while across northern ireland, may turn a bit icy across western parts of wales

with some wetter weather beginning to move in here. still some showers grazing those north sea coasts, more snow to come across northern scotland, although the snow may ease off later in the day. if anything, it may well be a bit colder on thursday. typical temperatures only around two or three degrees. it doesn't get an awful lot better than that on friday either. another widespread, quite sharp frost. you can see we've got a few wintry showers mainly around coastal areas. so in many, actually, the winds will be light. there'll be some sunshine around, but temperatures may be no better than around two to only five celsius. goodbye.

good morning, welcome to breakfast withjon kay and nina warhurst. our headlines today. more industrial action in the run up to christmas. this time thousands of ambulance staff are to go on strike. prince harry and meghan receive a human rights award just days before their explosive netflix documentary is due to air. good morning. for the rest of this week it is turning colder by day and by night. the met office has weather warnings out for a snow and ice in northern scotland, ice in eastern england, wales and northern ireland. details later in the programme.